Video conferencing has, over the years, become a vital part of doing business in this modern age. It helps create healthy and thriving business communication with your clients and co-workers regardless of location and time. It is an efficient way to communicate with potential customers, engage remote workers, interview job candidates, and collaborate with suppliers.
Most businesses have transited to remote work after the pandemic and quarantine, making the use of modern technologies for communication becomes inevitable. According to Lifesize, about 55% of companies agree that video conferencing helps to increase employee engagement effectively. It makes most remote workers feel more connected and involved during online meetings.
As a business owner, you should consider incorporating modern communication technologies. This article will provide details on video conferencing and its benefits in business communications.
What Is Video Conferencing?
Video conferencing uses modern technology to allow several users in different locations to have an online, face-to-face interaction. Via video calls, employees can have business communications conveniently using internet-enabled devices such as laptops, personal computers, mobile phones, etc.
This technology consistently enhances and improves business communication among colleagues and allows smooth investor collaboration. As a business owner, you should take advantage of the developments in wireless and communications technology for seamless interactions.
The ability of managers, clients, and employees to communicate in real-time and from anywhere will save the business a lot of costs. It also reduces the stress of traveling to and from your office, thereby increasing productivity.
How Does Video Conferencing Work?
An important feature that sets video conferencing apart from most means of communication is that users can see each other and seamlessly collaborate. The VoIP powers it, which makes it possible for users to transfer audio and video signals from different locations over the internet.
There are several ways you can go about conducting video conferencing with others. You can set up a well-equipped conference room with high-quality monitors and great cameras for clear communication. You can also use web cameras connected to your PC, laptop, or smartphone. In such cases, you will need a software-based platform to transmit the process of communicating over internet protocols.
Using this technology for your business communication is very easy. However, if you’re unfamiliar with video conferencing, here is a summary of how this technology works.
- Video conferencing starts when two or more people start communicating with each other over the internet via audio and video. The camera captures the analog video signal, while the microphone captures the audio signals when someone speaks.
- The video conferencing software converts and compress these signals to digital to enable them to move faster over the internet. It would help if you also had a strong and fast internet connection for more seamless communication.
- Once the audio and video signals reach the endpoint, the signals are converted from digital to analog. This will enable the end users to see and hear what you’re saying.
Benefits of Video Conferencing
Video conferencing offers numerous opportunities for seamless business communications. This technology is efficient, providing room for improved productivity. Find below some vital benefits of video conferencing to any organization.
It Saves a Lot of Time
Most people travel a great distance for business meetings and conferences. Traveling from a far distance doesn’t only require you to spend on transportation, it is also time-consuming. You can use the time for such a journey to get busy with other business priorities. Your employees will also process visual information faster than when communicating using only audio or text.
This feature is particularly convenient and beneficial for trekking experts developing new routes and trails for their consumers. Therefore if a trekking company representative has to overcome hundreds of kilometers to to beautiful Switzerland to investigate new tour des combins, he will have a chance to discuss and resolve business tasks with his head office live.
It Optimizes Operations and Improves Productivity
The best way to maximize your human resources is by video conferencing. Setting up a video call is better when you need a worker to get on a task quickly. It may take a while before they see and respond to your email. Video conferencing also reduces misunderstandings usually experienced during phone calls. In addition, you can optimize your operations by being in two places at the same time using video conferencing.
It Increases Employee Satisfaction and Retention
Having an outstanding work-life balance is essential to employee satisfaction and retention. A recent study by Owl Labs shows that 77% of respondents agreed that working from home would make them happier. It takes away the stress and expenses of traveling to the office daily. However, having online communication rather than going to the office will help to improve their health and job satisfaction.
It Improves Business Communications
The tone of voice, eye contact, facial expression, and body language are essential aspects of communication. Most times, more than words alone is needed to make others accurately understand the message you are passing. It is easier for your audience to comprehend what you are saying when you support it with gestures. Unlike communications via email, clients can instantly ask questions when in doubt on a video call. You can also share screens, chat, and record meetings using video conferencing solutions.
It Makes Collaboration Better
Video conferencing is a great solution to collaborate with people from different parts of the world easily. You can assign tasks and ensure your employees understand how to carry them out via video calls. Clients also don’t need to come to your office before you can reach agreements on the next project to execute. The limitation of collaborating with people from a very far distance is eradicated by using this technology.
It Leads to More Efficiency
Employees can get more work done in a lesser time when communications are done using video calls. You don’t have to gather all of them in one place before you start a business meeting. If you have something very urgent to discuss with your team members, set up a video conference call for quick and easy distribution of information.
How Video Conferencing Can Save Money for Businesses
As a business owner looking for ways to minimize the cost of running your business, video conferencing platforms are a great solution. It allows your business to run smoothly without incurring extra costs. You can quickly expand your workforce without having them in the same location. You can also reduce your spending on office infrastructure when most of your workers work from home.
Video conferencing saves your business more money as you can still hold face-to-face meetings with your employees online. Also, the cost of setting up conference room cameras and monitors outweighs the expense of having your workers around in the office.
Video conferencing can save you money in diverse ways. Let us take a look at some of the ways you can eliminate extra costs using this technology.
- It reduces transportation costs such as flights, car rentals, and hotel reservations.
- It saves operational costs such as office supplies, materials, and utilities.
- There is no need to pay for extra office space when most teams work remotely.
- Reducing extra spending on office maintenance
- Instant access to quick decision-making leads to improved productivity and more profit.
- It reduces employee welfare costs like breakfast or lunch.
What Technologies Are Used in Video Conferencing?
The use of videos for communication has become essential for most business owners. Certain technologies are used To make a video conference call possible, and we have listed them below.
Smart cameras: You need high-quality video cameras with AI capabilities to enjoy the best video conferencing. These cameras can automatically zoom in or out to give clear images of an active speaker during the meeting. Such smart cameras with bespoke functionalities can also blur backgrounds and tell you the exact number of people present in the meeting.
Video conferencing software: This is software that enables users to make video calls with others. It sometimes provides other functions, such as file sharing during meetings. With numerous software vendors in the market, you must look for a reliable one for your business. After which, install the software on your mobile device or computer.
A video display device: These include a desktop monitor, laptop, mobile phone, or television screen. You can also use a projector to broadcast video output during a presentation. Depending on your preferred output, you can use bigger or small screens during the video calls.
A network connection: You need a strong and reliable network connection for data transfer between you and the other users. Depending on which one is faster, you can use a wired/wireless network connection. without a good network connection, you may have problems with hearing clearly, or experience hanging during the online meeting.
Other peripherals: You can add other components such as a microphone, speaker, headset, etc. However, some of these components may have them inbuilt into your device. These additional peripherals will aid in making the video communication process seamless.
A transcription software: We recommend you integrate transcription software into your conferencing video software. Audext, an advanced transcription software, can convert your audio and video files to text. This is very useful when storing vital information in text for employees who could not join the conference.
How You Can Apply Text Transcription to Your Video Conferencing Solution
You need reliable transcription software to convert your video conference meeting to a text file. Audext has made the process super easy and affordable. You can also convert any video or audio file in any format to text with a few clicks. Use the steps below to convert your video or audio files to text professionally.
- Choose the file you wish to convert and upload into Audext. You can also use the drag-and-drop function for an easy uploading process.
- Next, enter the speakers’ names and choose the language you wish to convert the video into.
- You can then hit the start button and allow the transcription process takes its time.
- Once done, you can download your file in .txt or .docs format, depending on your preference. Audext also allows you to edit your transcription on the software.
Start Improving Your Communication Today with a Video Conference Tool
For better business communication, you need to embrace video conferencing. The transition from traditional business communications to modern video conferencing solutions is fast-growing, and it is ideal that you also join early. It is a great way to cut costs, collaborate better with clients, and improve employee productivity.
Improving your communication with a video conference tool will attract more clients and aid in retaining the old ones. You’ll discover in the long run that investing in this technology is worth the time and effort, as there are many advantages of communication you will enjoy. Remember that better communication will lead to more productivity.